Assets Recovery Unit can access any govt department

TORs say information will have to be provided to ARU in seven days

ISLAMABAD: The Assets Recovery Unit (ARU), constituted by the federal government for retrieval of unlawful money stashed abroad, will be empowered to get any kind of information from any federal or provincial department and the relevant department will share the information within seven days.

"Any such information, so required by the relevant government department shall be made available within seven working days of receiving the request," say the terms of reference (TORs) of the ARU submitted by Attorney General for Pakistan (AGP) Anwar Mansoor Khan to the Supreme Court on Wednesday.

The ARU through the law-enforcement agency (LEA) or any relevant department may seek such assistance and information  including but not limited to bank accounts, records of companies, revenue records, travel record or data from the National Database Registration Authority (NADRA).

It may also acquire any other information as it may deem necessary from any bank, department or agency of the federal or provincial governments or any other organisation operating within Pakistan.



The TORs say the ARU will be led by Special Assistance to Prime Minister Mirza Shahzad Akbar and comprise senior officer from the Federal Investigation Agency (FIA), the National Accountability Bureau (NAB), the Federal Board of Revenue (FBR), the State Bank of Pakistan (SBP), two experts from private sector with expertise of forensic accounting, anti-money laundering, international criminal laws and transnational legal systems and any other officer/agency/firm or individual if so required by the unit.

The unit may request any intelligent agency under the government of Pakistan for its assistance in obtaining any information on any subject within or outside the country.

The ARU will gather existing cases, inquiries and investigations involving unlawful assets abroad from all relevant LEAs. It may initiate legal proceedings domestically or abroad through relevant departments.

According to the ToRs, the ARU may seek help or assistance of foreign government/firms/lawyers or individuals for tracing out unlawful assets from abroad.



Where the ARU finds foreign assets/properties/bank accounts of Pakistani citizens or legal person with suspicion of money laundering or assets falling under suspicion as proceed of crime, it may refer the matter and evidence to the relevant agency – NAB or the FIA – for expedient action according to law.

Where evidence suggest any criminality other than untaxed foreign assets of Pakistani abroad, the same may be referred to the FBR for taxation purpose  under the applicable provisions of law.

"Any information so received under an international multilateral or bilateral treaty arrangement shall only be used for its intended purpose as prescribed under such treaty arrangement," the TORs say.

They state that for the purpose of tracing foreign assets, working/traveling abroad and hiring of any expertise, the ARU will be allocated appropriate funds by the Ministry of Finance and the secretary attached with the ARU shall act as principal accounting officer.

The unit will report on its performance to the prime minister through its chairman on fortnightly basis. The ARU will also report its performance periodically to chief justice of Pakistan if so desired by him.



Talking with reference to the unit, the Pakistan Bar Council (PBC) executive member Raheel Kamran Sheikh; however, said without proper legislation, the ARU cannot work under these ToRs.

Meanwhile, a three-judge SC bench, headed by Chief Justice of Pakistan Mian Saqib Nisar on Wednesday adjourned for one week hearing of a suo motu case pertaining to retrieval of looted money from foreign countries on the request of the attorney general.

The AGP told the bench that the government has already taken steps for recovery of money as well as for choking all channels used for the purposes of sending amount abroad through Hawala/Hundi.

He said during a meeting chaired by the PM, a committee has been constituted under the finance minister to recommend amendments in laws. "Though there are difficulties in relation to their implementation abroad, attempts are being made to overcome the same," he said.